question about old debt?

inacrisis

A long time ago me and my ex had a loan and credit card which we got in trouble with and never ended up paying back, this is no longer on my credit file and I have saved money up to pay it off now I am in a more stable financial position. The total owed was about 9k but I have no idea who I owe the debt too. I remember receiving all the threatening letters but can't remember who I actually owe the money too. The original loan was with my bank halifax and credit card with MBNA (who bizarrely have since given me a 36 month interest free credit card with 7k limit which i used to transfer a balance for my car loan to thank you kindly), it then went on to a debt collection company and passed on to various people. Nothing shows on my credit record about who I owe this money too and everyone is saying just forget about it. We are looking to buy a house in the next 6 months and have a mortgage in principle with the bank so I know this old debt wont affect that, I am wondering if I should put the money I have saved up to pay this off or use it as extra deposit on the house we buy? Is it likely that 8 years down the line someone will come knocking at the door for it? I don't think I have ever had a letter about it since moving out of the house I had with my ex about 4 years ago.

Thanks in advance for any advice

fatbelly

Is it 8 years since you last made a payment to it?

If so, and they haven't got a ccj, then the debt is unenforceable (England/Wales) or 'extinguished' (Scotland) and either way you can put the money to better use elsewhere and forget about it.

If it does come out of the woodwork you can tell the new owner/collector that you are not paying because it's statute barred under the Limitation Act.

inacrisis

Yeh I think at least 7 years since we last made a payment too it. Probably 4 years since I last received a letter. I never had a CCJ in regards to them.

Thanks for your reply

sourcrates

It would be statute barred now, if anyone should contact you about it, you wound send a letter stating it was statute barred, normally that would be the end of it.